Producer David Heyman has confirmed that "Paddington 3" is in the works.
Heyman, however, added that director Paul King will not be in the director's chair this time.
"I don't think Paul King will direct the third. He did the first two-he and I are working on another project together... He's very special, Paul. We're developing a third Paddington. We haven't got a script yet, we've got a treatment which we're still working on," he told Collider.
The film franchise features Ben Whishaw voicing Paddington and Imelda Staunton lending her voice for Aunt Lucy.
Based on the best-selling book of the same name by British author Michael Bond, the film tells the story of the eponymous character Paddington, an anthropomorphic bear who migrates from the jungles of Peru to the streets of London, where he is adopted by the Brown family.
Heyman said while King is unlikely to direct the third part, he would still be a part of the team if the sequel moves forward.
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"Paul is involved in it, I wanted him to be involved in it because I think he's such a significant voice, but I don't think he'll direct it. He worked on the idea...
"He comes up with the idea with Simon Farnaby and Mark Burton and then they develop it and come back for more, back and forth, and then it'll get written and Paul will come in and stir it up a little bit. But he's an incredible collaborator, Paul. Very positive, very supportive," he said.
The producer added that "Paddington 3" will only move ahead if the quality of the film would match the previous two films.
"I hope we get to make it. It's really fun, it's a fun idea. I don't know yet. I don't want to do it if I don't think it's gonna be good," he said.